COM DEV Responds to Market Speculation
COM DEV International Ltd. (TSX:CDV), a leading manufacturer of space hardware subsystems, has been made aware of press speculation regarding a possible acquisition transaction involving the Company. In response to that press speculation, COM DEV acknowledges that, in connection with a review of its strategic alternatives, it has been involved in confidential discussions with third parties with respect to potential strategic transactions involving the Company, with the assistance of its financial advisor Canaccord Genuity. While such discussions are ongoing, no assurance can be given that any transaction will be announced or completed. COM DEV does not intend to make further comment unless or until there is a transaction to announce.
About COM DEV
COM DEV International Ltd. (www.comdevinternational.com) is a leading global provider of space hardware and services. The company has a staff of more than 1,250, annual revenues of over $200 million, and facilities in Canada, the United Kingdom, the United States, India and China. COM DEV designs, manufactures and integrates advanced products, subsystems and microsatellites that are sold to major satellite prime contractors, government agencies and satellite operators, for use in communications, space science, remote sensing and defence applications. The company has won contracts to supply its equipment on over 950 spacecraft. COM DEV’s majority-owned subsidiary, exactEarth Ltd., provides satellite data services for global maritime surveillance.
This news release may contain certain forward-looking statements that involve risks and uncertainties. Actual results may differ materially from results indicated in any forward-looking statements. The Company cautions that, among other things, in view of the rapid changes in communications markets and technologies, and other risks including the cost and market acceptance of the Company’s new products, the level of individual customer procurements and competitive product offerings and pricing, and general economic circumstances, the Company’s business prospects may be materially different from forward-looking statements made by the Company.
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